The third biggest Bitcoin whale in the crypto world has gone all-in on BTC this week. In just 7-trading days, the mysterious and unidentified whale purchased more than $71 million in BTC by acquiring 1,800 coins. Data-tracking website BitInfoCharts revealed that the BTC whale is the biggest non-exchange buyer of the coin since its existence.
At present, the unnamed whale holds 125,552 Bitcoin in his/her wallet which is valued at approximately $4,999,829,118 ($4.99 billion). The whale made good use of Bitcoin’s recent dips below the $40,000 mark by accumulating more of the crypto.
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The whale in question has been very active this year as compared to its buying spree last year. The whale had mostly brought Bitcoins in hundreds in 2021 but is purchasing thousands of BTC in 2022.
While the whale purchased 1,800 Bitcoins worth $71 million this week, he/she picked up 2,822 Bitcoins worth $117 million last week. So in April 2022 alone, the third-biggest whale scooped up 4,622 Bitcoins worth a staggering $188 million.
The plush-with-cash whale might go all-in on BTC again if the leading crypto crashes shortly. BTC is a prime investment and accumulating it during the dips can deliver phenomenal results when the bull run kicks in.
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Bitcoin Whale Activities
Leading crypto analyst Benjamin Cowen explained to his 750,000 subscribers on YouTube that whale activity in Bitcoin has sprung up after the crypto dipped below the $40,000 mark. “You can see they’ve been periodically adding to their stack here in the low $40,000s and upper $30,000s levels.”
He further explained, “We need to understand that some people like to swing trade the market. Some people trade the ranges, and when it gets to the top of the range they sell, and when it goes to the bottom of the range they buy.”
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You can watch Benjamin Cowen’s video below:
Bitcoin slumped below the $40,000 mark this week and is struggling to claw back. BTC is now at $39,533 and there are chances that it might see a dip during the weekend. Read here to know why the crypto market usually dips during the weekend and picks up steam during the weekday.
At press time, Bitcoin was trading at $39,533 and is up a mere +0.5% in the 24-hours day trade.